Fantini & Gorga has arranged a $5 million line-of-credit on a 100,000 s/f class A office building. Terms of the credit facility include a five-year term and an option to fix the proceeds at an attractive rate.
The property is located in a well-designed eight building park, which encompasses more than 1 million s/f of space. It is more than 95% occupied. Originally a build-to-suit property, the property is equipped with state-of-the-art systems and redundant power.
Wayne Clough, managing director, and Mark Whelan, director, introduced the borrowers to the lender, a regional banking institution.
"The borrowers were clear in providing direction and we were able to match up their wants and needs with a bank that was very accommodating," said Clough. "This transaction gives our client the ability to quickly pursue future transactions."
Fantini & Gorga is one of New England's leading mortgage banking firms. Headquartered in Boston, Fantini & Gorga specializes in assisting its clients in arranging traditional debt, mezzanine, and equity financing for all commercial property types throughout the United States. An affiliate of Eastern Bank, Fantini & Gorga combines deep regional roots, broad experience, market knowledge, and national/international reach in access to capital.